The Straits Times
Published on Nov 30, 2012

'A Pakatan govt will doom the economy'

PM Najib trumpets BN's track record even as he apologises for mistakes


KUALA LUMPUR - Malaysia's Prime Minister Najib Razak appealed to Malaysians not to gamble their future by voting in an untested opposition, warning that this would lead to economic calamity within three years.

He charged that within the first year of a government led by the opposition coalition Pakatan Rakyat, Malaysia's deficit will soar from 5 per cent to almost 30 per cent of the gross domestic product (GDP). By 2015, he said, its debt will go from 53 per cent to 140 per cent of GDP.

"By the third year, we would reach a critical stage and lose our economic sovereignty like Greece," Datuk Seri Najib said to the 2,500 delegates at Umno's general assembly, its last meeting before the next general election.

He said that the opposition would send Malaysia to economic doom if it makes good on promises to raise the minimum household income to RM4,000 (S$1,600) a month, abolish highway tolls, provide free tertiary education, give teachers a RM500 monthly allowance and raise oil royalty from 5 per cent to 20 per cent for oil-producing states.